Zoom rides pandemic to another quarter of explosive growth

SAN RAMON, Calif. (AP) – Zoom’s videoconferencing service is deepening its integral role in life during the pandemic as thousands more businesses and other users pay for subscriptions to get more control over their virtual meetings.

The surge in paying customers enabled Zoom to hail another quarter of as- tounding growth in a report released Monday. The company’s revenue for the May-July period more than quadrupled from the same time last year to $663.5 million while its profit soared too.

Zoom also forecast its revenue for the rest of the year will be much higher than expected, sending its already lofty stock price to new highs after the results came out.